2026-05-12T16:28:53-05:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 6320 CANOGA AVENUE 17TH FLOOR WOODLAND HILLS CA 91367 990 2024-07-01 951643389 UNIVERSITY OF REDLANDS UNIV 9097488180 1200 EAST COLTON AVE REDLANDS CA 92373 ADRIENNE MCCORMICK PROVOST 9097488180 2026-05-15 1 1 LAUREN A HAVERLOCK P00545829 8185771900 2026-05-11 2024 2025-03-06 01:10:19Z KRISTA L NEWKIRK 1200 EAST COLTON AVE REDLANDS CA 92373 300537913 0 X WWW.REDLANDS.EDU X 1907 CA THE UNIVERSITY OF REDLANDS IS A PRIVATE, INDEPENDENT LIBERAL ARTS AND SCIENCES UNIVERSITY COMMITTED TO A MISSION THAT WELCOMES, EDUCATES, AND EMPOWERS A DIVERSE COMMUNITY OF LEARNERS FOR LIVES OF MEANING, IMPACT, AND JOY. 32 32 2020 1300 108922 11053 24618962 14483197 159547993 162904967 15298469 22574051 322697 271702 199788121 200233917 73173143 72980080 0 0 62716846 66622597 0 0 3110100 60765674 60985959 196655663 200588636 3132458 -354719 538620588 550197139 147088545 145525988 391532043 404671151 X WE WELCOME, EDUCATE, AND EMPOWER A DIVERSE COMMUNITY OF LEARNERS FOR LIVES OF MEANING, IMPACT, AND JOY. 0 0 116365328 72338077 155369221 INSTRUCTION & ACADEMIC SUPPORT PROVIDED FOR APPROXIMATELY 3,000 FULL-TIME AND PART-TIME STUDENTS. SCHOLARSHIPS AND GRANTS PROVIDED BY UNIVERSITY AND PRIVATE SOURCES TOTALED APPROXIMATELY $72 MILLION FOR THE YEAR ENDED JUNE 30, 2025. 23311216 642003 7139906 STUDENT SERVICES TO SUPPORT STUDENT RECRUITING, COUNSELING, STUDENT ACTIVITIES, AND ATHLETICS. 22285234 0 392040 PUBLIC SUPPORT AND STUDENT SERVICES. 161961778 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 4748 0 1 2020 1 1 1 1 AU 0 0 0 0 0 0 0 0 0 0 X 32 32 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X WALTER J BRANSON INTERIM VP FINANCE AND ADMIN 9097488066 1200 E COLTON AVENUE ADMIN 302 REDLANDS CA 92373 JAMISON J ASHBY CHAIR - TRUSTEE 6.00 1.00 X X 0 0 0 DARREN ROSE - FIRST VICE CHAIR - TRUSTEE 4.00 0.00 X X 0 0 0 BRADLEY N ADAMS - SECOND VICE CHAIR - TRUSTEE (AS OF 07/24) 4.00 1.00 X X 0 0 0 LUANN BANGSUND TRUSTEE 2.00 0.00 X 0 0 0 JANET BERCKEFELDT TRUSTEE 4.00 0.00 X 0 0 0 BRADLEY BERG TRUSTEE 2.00 0.00 X 0 0 0 CAROLE BESWICK TRUSTEE 2.00 0.00 X 0 0 0 LARRY BURGESS TRUSTEE 2.00 0.00 X 0 0 0 LISA CANO BURKHEAD TRUSTEE 2.00 0.00 X 0 0 0 WILLIAM CAHILL TRUSTEE 2.00 0.00 X 0 0 0 BRUCE CAVARNO TRUSTEE 2.00 0.00 X 0 0 0 JOE D'ANNA TRUSTEE 2.00 0.00 X 0 0 0 DAVID P ENZMINGER TRUSTEE 4.00 1.00 X 0 0 0 SUZANNE FARVER TRUSTEE (AS OF 07/24) 2.00 3.00 X 0 0 0 WARREN FOX TRUSTEE (AS OF 07/24) 2.00 2.00 X 0 0 0 JAVIER GARCIA TRUSTEE 4.00 0.00 X 0 0 0 BECKY CAMPBELL GARNETT TRUSTEE 2.00 0.00 X 0 0 0 ADAM GOTTLIEB TRUSTEE 2.00 0.00 X 0 0 0 KEN HALL TRUSTEE 2.00 0.00 X 0 0 0 DAN HANSON TRUSTEE 2.00 0.00 X 0 0 0 ROBERT HARRIS TRUSTEE 4.00 0.00 X 0 0 0 TEENA HOSTOVICH TRUSTEE 2.00 0.00 X 0 0 0 AFSHIN KATEB TRUSTEE (AS OF 07/24) 2.00 1.00 X 0 0 0 JEANIE KIM TRUSTEE (AS OF 07/24) 2.00 1.00 X 0 0 0 KIM STAFFORD KORINKE TRUSTEE 2.00 0.00 X 0 0 0 GREGORY LIPPE TRUSTEE (AS OF 07/24) 2.00 1.00 X 0 0 0 ON LU TRUSTEE 2.00 0.00 X 0 0 0 ELSA LUNA TRUSTEE 2.00 0.00 X 0 0 0 JACOB MADDEN TRUSTEE (AS OF 07/24) 2.00 0.00 X 0 0 0 EUGENE MITCHELL TRUSTEE 2.00 0.00 X 0 0 0 BRIAN MURPHY TRUSTEE 4.00 0.00 X 0 0 0 SABINE ROBERTSON-PHILLIPS TRUSTEE (THRU 09/24) 4.00 0.00 X 0 0 0 JAMES SCHROEDER TRUSTEE (THRU 03/25) 2.00 0.00 X 0 0 0 CANDICE L UNRUH TRUSTEE 2.00 0.00 X 0 0 0 KRISTA L NEWKIRK PRESIDENT 70.00 2.00 X 601429 0 79380 GRACE CRICKETTE VP FINANCE 60.00 0.00 X 336857 0 20504 ADRIENNE MCCORMICK PROVOST 60.00 0.00 X 275471 0 26661 JEN THOMPSON CHIEF OF STAFF & GENERAL SECRETARY 60.00 0.00 X 195691 0 25331 KEVIN DYERLY VP ENROLLMENT 55.00 0.00 X 269663 0 23217 THOMAS HORAN DEAN, SCHOOL OF BUSINESS 55.00 0.00 X 263867 0 9903 JED SCHWENDIMAN VP ADVANCEMENT 55.00 0.00 X 245378 0 36 KIN SEJPAL CHIEF COMMUNICATIONS OFFICER 55.00 0.00 X 237138 0 6929 JUSTIN ROSE - DEAN COLLEGE OF ARTS & SCIENCES 55.00 0.00 X 239473 0 826 NICOL HOWARD - DEAN SCHOOL OF EDUCATION (THRU 01/25) 55.00 0.00 X 199300 0 202 J CHRISTOPHER JENNINGS GENERAL COUNSEL 55.00 0.00 X 252536 0 25121 AVIJIT SARKAR PROFESSOR 55.00 0.00 X 154669 0 22149 WENDY FARLEY PROFESSOR 55.00 0.00 X 173802 0 0 NANCY SVENSON ASSOC. VP GRAD & ENROLLMENT 55.00 0.00 X 166666 0 0 MARA WINICK PROFESSOR 55.00 0.00 X 161700 0 1766 3773640 0 242025 169 0 1 0 HARVEST TABLE CULINARY GROUP 2400 MARKET STEET PHILADELPHIA PA 19103 FOOD SERVICES 6339326 KAR CONSTRUCTION INC 1306 W BROOKS STREET ONTARIO CA 91762 CONSTRUCTION 5019506 HONEYWELL INTERNATIONAL 1159 IOWA AVENUE SUITE A RIVERSIDE CA 92507 CONSTRUCTION 4779361 MCKINSTRY ESSENTION 5005 3RD AVENUE SOUTH SEATTLE WA 98134 CONSTRUCTION 2570924 GOOGLE INC 1600 AMPHITHEATRE PARKWAY MOUNTAIN VIEW CA 94043 MARKETING 1488238 86 563194 2096988 11823015 897981 14483197 TUITION & FEES 611600 153274817 153274817 AUXILIARY PROGRAMS 611600 7139906 7136106 3800 CONFERENCES 611600 1693344 1693344 ASSOCIATED STUDENT 611600 692722 692722 STUDENT LOAN INTEREST 611600 104178 104178 162904967 10393556 105122 10288434 199352 199352 72350 0 72350 72350 72350 112484491 100303996 12180495 12180495 12180495 200233917 162901167 108922 22740631 511476 511476 71826601 71826601 642003 642003 3108739 418145 2690594 53051183 41371202 9687748 1992233 314726 277397 23985 13344 6050477 4580960 1250785 218732 4097472 3057411 894273 145788 454764 454764 323200 323200 1098121 1098121 4896152 1305915 3324549 265688 5988830 4418641 1415143 155046 2651136 1487012 1119493 44631 2319547 1762856 471137 85554 9317206 3293792 6023305 109 2112001 1900711 181584 29706 175787 150312 16077 9398 2784803 2784803 11659717 11659717 2204794 1760528 399839 44427 FOOD SERVICE 7081966 6902386 157690 21890 STUDENT PROGRAMS 4370137 4074195 291382 4560 BAD DEBT 883022 117961 765061 MEMBERSHIPS 367367 122748 244303 316 2297409 319809 1898922 78678 200588636 161961778 35516758 3110100 11192425 6196034 1527028 12342388 5904870 6107605 4477421 12366946 988037 69842 90527 95206 2263647 1263723 422089361 218511213 199366871 203578148 114712693 101561343 189963278 199017552 3297297 3396749 4836494 4201603 538620588 550197139 13917353 12869129 4400053 4740435 102849444 102639801 6000000 6000000 19921695 19276623 147088545 145525988 X 96233007 89094817 295299036 315576334 391532043 404671151 538620588 550197139 X -354719 14621576 -1127749 X 0 1 X 1 1 1 X 18065978 24339238 10741578 24618962 14433197 92198953 18065978 24339238 10741578 24618962 14433197 92198953 444533 91754420 5367797 7688313 8886611 10039312 10560136 42542169 267743 2759 6542 13281 290325 972403 972403 136003850 824407026 0.67460 0.69850 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GAIN ON BOND ISSUANCE RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X 0 268780323 4486962 30958471 9679894 4382466 290163396 251886901 4375923 26492120 4353155 9621466 268780323 247640502 5012197 12606515 4184170 9188143 251886901 275778048 7080262 -24779439 3888519 6549850 247640502 225444728 6425553 53904519 3588809 6407943 275778048 0.05240 0.73690 0.21070 0 0 25692258 25692258 30962840 297147442 192832330 135277952 30580368 11802694 18777674 18597823 13876189 4721634 19108630 19108630 203578148 1192087 F GLOBAL EQUITIES 66027840 F FIXED INCOME 55037065 F INFLATION HEDGING 32616792 F COMMON TRUST FUNDS 32546746 F PRIVATE EQUITY PSHIPS 8736225 F ASSETS HELD BY OTHERS 2820063 F OTHER INVESTMENTS 40734 C 199017552 LIABILITY FOR TRUSTS PAYABLE 12698784 ASSET RETIREMENT OBLIGATION 1937211 OPERATING LEASE LIABILITIES 1875476 REFUNDABLE U.S. GOVT STUDENT LOANS 1399270 RESERVE FOR ANNUITIES PAYABLE 1253422 UNEARNED REV - POOLED INCOME FUND 112460 19276623 X 169250453 14621576 28598806 43220382 126030071 937398 73266448 74203846 200233917 157276144 30664060 30664060 126612084 937398 73039154 73976552 200588636 PART III, LINE 4: THE UNIVERSITY MAINTAINS A LIMITED COLLECTION OF ART AND HISTORICAL TREASURES TO BE USED FOR ACADEMIC AND RESEARCH PURPOSES AS WELL AS PRESERVING COLLECTION ITEMS FOR FUTURE GENERATIONS. UPON THE ADOPTION OF FASB ASC 958, THE UNIVERSITY ELECTED TO CAPITALIZE COLLECTION ITEMS PROSPECTIVELY. SUBSEQUENT TO MAKING THE ELECTION, THE UNIVERSITY HAS NOT RECORDED ANY SIGNIFICANT COLLECTION ITEMS. PART V, LINE 4: ENDOWMENT FUNDS ARE INTENDED FOR SCHOLARSHIPS, EDUCATIONAL ACTIVITIES AND INSTITUTIONAL SUPPORT PURPOSES. PART X, LINE 2: THE UNIVERSITY IS RECOGNIZED AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON NET INCOME FROM UNRELATED BUSINESS ACTIVITIES, AND FILES FEDERAL AND STATE RETURNS TO REPORT UNRELATED BUSINESS INCOME, AS APPROPRIATE. MANAGEMENT HAS EVALUATED THE UNIVERSITY'S MATERIAL TAX POSITIONS; THERE WERE NO UNCERTAIN TAX POSITIONS IDENTIFIED AS OF JUNE 30, 2025 AND 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: PRESIDIO REVENUE BACKOUT 1,706,727. WOODBURY REVENUE BACKOUT 28,363,909. LOSS ON ASSET RETIREMENT OBLIGATIONS -1,471,830. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 72,468,604. PARTNERSHIP UBI 105,122. ASSOCIATED STUDENT REVENUE 692,722. PART XII, LINE 2D - OTHER ADJUSTMENTS: PRESIDIO EXPENSE BACKOUT 1,801,553. WOODBURY EXPENSE BACKOUT 28,862,507. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 72,468,604. ASSOCIATED STUDENT EXPENSES 570,550. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY PUBLISHES STATEMENTS THAT THE UNIVERSITY DOES NOT DISCRIMINATE IN THE ADMISSIONS PROCESS IN THE UNIVERSITY CATALOG, ADMISSIONS BROCHURES, APPLICATION FORMS, AND ON THE UNIVERSITY'S WEBSITE. SCHEDULE E, PART I, LINE 6 GRANTS RECEIVED FROM FEDERAL AND STATE AGENCIES FOR FINANCIAL ASSISTANCE TO STUDENTS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 4396420 EUROPE (INCLUDING ICELAND AND GREENLAND) 1 2 PROGRAM SERVICES UNDERGRADUATE STUDY ABROAD 877259 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS TO RECIPIENTS IN THE REGION 36100 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS IN THE REGION 76940 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS IN THE REGION 19000 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO RECIPIENTS IN THE REGION 29000 NORTH AMERICA - CANADA AND MEXICO 0 0 GRANTS TO RECIPIENTS IN THE REGION 177942 SOUTH AMERICA 0 0 GRANTS TO RECIPIENTS IN THE REGION 90400 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS IN THE REGION 154265 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS IN THE REGION 58356 1 2 0 0 1 2 5703061 212621 5915682 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 1 36100 APPLICATION TO STUDENT ACCOUNT SCHOLARSHIPS EAST ASIA AND THE PACIFIC 3 76940 APPLICATION TO STUDENT ACCOUNT SCHOLARSHIPS EUROPE (INCLUDING ICELAND AND GREENLAND) 1 19000 APPLICATION TO STUDENT ACCOUNT SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 1 29000 APPLICATION TO STUDENT ACCOUNT SCHOLARSHIPS NORTH AMERICA (CANADA AND MEXICO) 4 177942 APPLICATION TO STUDENT ACCOUNT SCHOLARSHIPS SOUTH AMERICA 3 90400 APPLICATION TO STUDENT ACCOUNT SCHOLARSHIPS SOUTH ASIA 3 154265 APPLICATION TO STUDENT ACCOUNT SCHOLARSHIPS SUB-SAHARAN AFRICA 2 58356 APPLICATION TO STUDENT ACCOUNT 1 0 1 1 1 0 PART I, LINE 2: NEED BASED AID IS AWARDED BASED ON FEDERAL AND/OR STATE ELIGIBILITY REQUIREMENTS AND INSTITUTIONAL AID IS AWARDED ACCORDING TO INSTITUTIONAL POLICY. AMOUNTS OF AID AWARDED ARE IN COMPLIANCE WITH GOVERNING REGULATIONS OR INSTITUTIONAL POLICY. IN COMPLIANCE WITH TITLE IV REGULATIONS, TOTAL AID FROM ALL SOURCES CANNOT EXCEED NEED OR THE ANNUAL COST OF TUITION, REGARDLESS OF THE LEVEL OF NEED. GRANTS AND SCHOLARSHIPS ARE APPLIED DIRECTLY TO A STUDENT ACCOUNT AND FUNDS ARE NOT DISTRIBUTED DIRECTLY TO STUDENTS. OVERPAYMENT OR CREDIT BALANCES OF STUDENT ACCOUNT BALANCES ARE ANALYZED PRIOR TO DISTRIBUTING REFUNDS TO STUDENTS TO ENSURE THAT GRANTS AND SCHOLARSHIPS ARE PROPERLY AWARDED AND UTILIZED FOR EDUCATIONAL PURPOSES. PART I, LINE 3: THE UNIVERSITY MONITORS FOREIGN EXPENDITURES ON A MONTHLY BASIS. ONCE DURING EACH SEMESTER THE UNIVERSITY TRANSFERS EUROS TO THE FOREIGN OFFICE FOR THE ESTIMATED AMOUNT OF THE FOREIGN OFFICE'S EXPENDITURES FOR THE SEMESTER. AT THE END OF EACH MONTH, THE FOREIGN OFFICE SENDS THE UNIVERSITY A LEDGER OF ACTUAL EXPENDITURES AND A CASH RECONCILIATION FOR THE BANK ACCOUNT. PART III, COL (C): THE NUMBER OF RECIPIENTS ARE DETERMINED BY STUDENT RECORDS. 1 WOODBURY UNIVERSITY 7500 NORTH GLENOAKS BOULEVARD BURBANK CA 91504 952786163 501(C)(3) 511476 0 MERGER RELATED EXPENSE SUPPORT 1 0 UNDERGRADUATE NEED BASED SCHOLARSHIPS 1400 54789774 UNDERGRADUATE MERIT SCHOLARSHIPS 681 16589399 GRADUATE NEED BASED SCHOLARSHIPS 55 447428 PART I, LINE 2: AS THE SOLE MEMBER OF WOODBURY UNIVERSITY, UNIVERSITY OF REDLANDS CONTRIBUTED $511,476 DURING THE YEAR ENDED JUNE 30, 2025, TO PARTIALLY FUND OPERATIONS, INCLUDING PAYROLL OBLIGATIONS, DEBT PAYMENTS, AND LEGAL AND CONSULTING EXPENDITURES RELATED TO THE CHANGE OF CONTROL AND MERGER. NEED BASED AID IS AWARDED BASED ON FEDERAL AND/OR STATE ELIGIBILITY REQUIREMENTS AND INSTITUTIONAL AID IS AWARDED ACCORDING TO INSTITUTIONAL POLICY. AMOUNTS OF AID AWARDED ARE IN COMPLIANCE WITH GOVERNING REGULATIONS OR INSTITUTIONAL POLICY. IN COMPLIANCE WITH TITLE IV REGULATIONS, TOTAL AID FROM ALL SOURCES CANNOT EXCEED NEED OR THE ANNUAL COST OF TUITION, REGARDLESS OF THE LEVEL OF NEED. GRANTS AND SCHOLARSHIPS ARE APPLIED DIRECTLY TO A STUDENT ACCOUNT AND FUNDS ARE NOT DISTRIBUTED DIRECTLY TO STUDENTS. OVERPAYMENT OR CREDIT BALANCES OF STUDENT ACCOUNT BALANCES ARE ANALYZED PRIOR TO DISTRIBUTING REFUNDS TO STUDENTS TO ENSURE THAT GRANTS AND SCHOLARSHIPS ARE PROPERLY AWARDED AND UTILIZED FOR EDUCATIONAL PURPOSES. X X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 KRISTA L NEWKIRK PRESIDENT 484260 0 107100 0 10069 0 23000 0 56380 0 680809 0 0 0 GRACE CRICKETTE VP FINANCE 285939 0 20000 0 30918 0 0 0 20504 0 357361 0 0 0 ADRIENNE MCCORMICK PROVOST 273197 0 1500 0 774 0 0 0 26661 0 302132 0 0 0 KEVIN DYERLY VP ENROLLMENT 262184 0 1500 0 5979 0 0 0 23217 0 292880 0 0 0 J CHRISTOPHER JENNINGS GENERAL COUNSEL 244622 0 1500 0 6414 0 0 0 25121 0 277657 0 0 0 THOMAS HORAN DEAN, SCHOOL OF BUSINESS 262648 0 0 0 1219 0 0 0 9903 0 273770 0 0 0 JED SCHWENDIMAN VP ADVANCEMENT 237464 0 1500 0 6414 0 0 0 36 0 245414 0 0 0 KIN SEJPAL CHIEF COMMUNICATIONS OFFICER 235458 0 1500 0 180 0 0 0 6929 0 244067 0 0 0 JUSTIN ROSE - DEAN COLLEGE OF ARTS & SCIENCES 239293 0 0 0 180 0 0 0 826 0 240299 0 0 0 JEN THOMPSON CHIEF OF STAFF & GENERAL SECRETARY 193777 0 1500 0 414 0 0 0 25331 0 221022 0 0 0 NICOL HOWARD - DEAN SCHOOL OF EDUCATION (THRU 01/25) 197548 0 1500 0 252 0 0 0 202 0 199502 0 0 0 AVIJIT SARKAR PROFESSOR 153027 0 1500 0 142 0 0 0 22149 0 176818 0 0 0 WENDY FARLEY PROFESSOR 171891 0 1500 0 411 0 0 0 0 0 173802 0 0 0 NANCY SVENSON ASSOC. VP GRAD & ENROLLMENT 164287 0 1500 0 879 0 0 0 0 0 166666 0 0 0 MARA WINICK PROFESSOR 159362 0 1500 0 838 0 0 0 1766 0 163466 0 0 0 PART I, LINE 1A FOR FLIGHTS THAT EXCEED TWO HOURS IN DURATION, THE PRESIDENT IS APPROVED TO TRAVEL IN BUSINESS CLASS (OR IF NOT AVAILABLE, THEN THE NEXT HIGHER CLASS OF TRAVEL ABOVE COACH). THE PRESIDENT'S SPOUSE IS EXPECTED TO ACCOMPANY THE PRESIDENT ON UNIVERSITY BUSINESS TRAVEL WHERE APPROPRIATE. NEITHER OF THESE EXPENSES WERE NOT INCLUDED IN THE PRESIDENT'S TAXABLE FRINGE BENEFITS. THE UNIVERSITY REQUIRES THE PRESIDENT TO LIVE IN A UNIVERSITY OWNED RESIDENCE. PERSONAL SERVICES PROVIDED TO THE PRESIDENT ARE LIMITED TO CUSTODIAL CLEANING OF THE RESIDENCE. THE RESIDENCE IS WITHIN CLOSE PROXIMITY TO CAMPUS, IS FURNISHED TO THE PRESIDENT FOR THE UNIVERSITY'S CONVENIENCE AS IT HOSTS REGULARLY CARRIED ON BUSINESS ACTIVITIES, AND IS REQUIRED FOR THE PRESIDENT TO ACCEPT AS A CONDITION OF EMPLOYMENT, THUS THE INCOME WAS NOT REPORTED AS TAXABLE. THE UNIVERSITY PAID COUNTRY CLUB DUES ON BEHALF OF GRACE CRICKETTE, VP FINANCE AND ADMINISTRATION. THE PERSONAL USE PORTION OF THE VALUE OF THE COUNTRY CLUB DUES WAS INCLUDED IN REPORTABLE (TAXABLE) COMPENSATION FOR THIS EMPLOYEE ON FORM 990. A CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 1301784X1 2015-01-07 36031337 SEE PART VI 0 0 0 B CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 571705592 130179GU2 2016-04-01 33959563 SEE PART VI 0 0 0 C CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130179UR3 2022-09-08 52640348 SEE PART VI 0 0 0 A 19730000 36031337 499548 35531789 2015 1 1 1 1 B 3935000 33959563 440633 33518930 2016 1 1 1 1 C 52640348 3368120 586365 46963972 1721891 0 0 0 0 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 1 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/17/2025 ISSUER NAME: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/08/2021 SCHEDULE K, PART I, COLUMN F: DESCRIPTION OF PURPOSE BOND #1: TO REFUND THE 2003 SERIES A AND 2003 SERIES B CEFA REVENUE BONDS AND PARTIALLY ADVANCE REFUND A PORTION OF THE 2005 SERIES A CEFA REVENUE BONDS. BOND #2: TO REFUND THE 2005 SERIES A AND ADVANCE REFUND THE 2008 SERIES A CEFA REVENUE BONDS. BOND #3: TO FINANCE THE ACQUISITION, CONSTRUCTION, INSTALLATION, IMPROVEMENT, RENOVATION, REHABILITATION, FURNISHING, AND EQUIPPING OF CERTAIN EDUCATIONAL FACILITIES AND RELATED FACILITIES OF, AND CERTAIN FACILITIES IN SUPPORT OF, THE UNIVERSITY. TO PAY FUNDED INTEREST ON THE 2022A BONDS. BOND #4: TO REFUND AND RESTRUCTURE A PORTION OF THE OUTSTANDING PRINCIPAL AMOUNT OF THE CEFA 2014A AND CEFA 2016A BONDS. X 30 468893 FMV X 1 420000 APPRAISAL X MISC. ITEMS 2 9088 FMV 0 0 1 1 PART I, COLUMN (B): THE QUANTITIES LISTED REPRESENT THE NUMBER OF INSTANCES THAT A CONTRIBUTION OF SUCH PROPERTY WAS RECEIVED. THE NUMBERS DO NOT NECESSARILY REFLECT THE NUMBER OF CONTRIBUTORS OR THE NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 32B: THE UNIVERSITY USES THIRD PARTIES TO SELL NON-CASH CONTRIBUTIONS SUCH AS ART AND TANGIBLE PROPERTY NOT USED IN UNIVERSITY OPERATIONS. FORM 990, PART III, LINE 1: MISSION: WE WELCOME, EDUCATE, AND EMPOWER A DIVERSE COMMUNITY OF LEARNERS FOR LIVES OF MEANING, IMPACT, AND JOY. VISION: BY 2032, THE UNIVERSITY OF REDLANDS WILL LEAD CALIFORNIA IN PROVIDING A STUDENT-FOCUSED, PERSONALIZED EDUCATION THAT DRIVES STUDENT SUCCESS. VALUES: EXCELLENCE: WE STRIVE TO DO OUR BEST IN ALL THAT WE PURSUE WHILE EMPOWERING OUR STUDENTS THROUGH SCHOLARSHIP AND THE SKILLS NEEDED TO DEVELOP PROFESSIONAL, CIVIC, AND INTERPERSONAL EXPERTISE. EXPLORATION: WE PURSUE A BETTER UNDERSTANDING AND APPRECIATION OF OURSELVES AND THE WORLD THROUGH ACADEMIC INQUIRY, RESEARCH, EXPERIENTIAL LEARNING, AND COLLEGIAL DISCOURSE. INCLUSIVITY: WE SEEK THE DIFFERENT PERSPECTIVES, EXPERIENCES, CULTURES, BACKGROUNDS, ABILITIES, TALENTS, AND CONTRIBUTIONS THAT COMPRISE A GLOBAL SOCIETY AND WE WORK TO BUILD A STRONG MULTI-DIMENSIONAL, AND SUSTAINABLE COMMUNITY. JUSTICE: WE PROMOTE FAIRNESS, INTEGRITY, LIBERTY, AND EQUITY IN OUR THOUGHTS, SERVICE, AND ACTIONS TO LEAD OUR LOCAL COMMUNITIES AND THE WORLD. KINDNESS: WE FOSTER A COMMUNITY THAT IS FRIENDLY, CONSIDERATE, RESPECTFUL, AND EMPATHETIC AS WE CARE FOR AND SHAPE CITIZENS WHO UNDERSTAND THAT THEIR ACTIONS AND WORDS IMPACT OTHERS. SERVICE: THROUGH SELFLESS ACTS, WE CONTRIBUTE TO THE HEALTH AND WELLNESS OF OTHERS AS WE STRIVE TO CREATE A BETTER SOCIETY AND WORLD. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO EXERCISE ALL POWERS OF THE BOARD NECESSARY TO MANAGE ANY AFFAIRS OF THE UNIVERSITY THAT ARISE AND NEED ATTENTION DURING THE INTERIM BETWEEN MEETINGS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 4 A COMPREHENSIVE UPDATE OF THE BYLAWS WAS ADOPTED MAY 17, 2025. SIGNIFICANT CHANGES TO THE BYLAWS INCLUDED: - ADDITIONAL LANGUAGE ADDED SURROUNDING THE POWERS, TERM LIMITS, AND REQUIREMENTS OF LIFE TRUSTEES - REVISION TO THE DEFINITION OF A QUORUM TO SPECIFY A MAJORITY OF TRUSTEES - CHANGES TO THE METHODS UNDER WHICH TRUSTEES MAY CONSENT OR VOTE - ADDED LANGUAGE SPECIFYING THAT TRUSTEES SHALL NOT BE COMPENSATED FOR SERVICES RENDERED AS TRUSTEES, OTHER THAN REASONABLE REIMBURSEMENT FOR EXPENSES INCURRED DURING PERFORMANCE OF THEIR DUTIES - COMPLETE REVISION OF LANGUAGE IN REGARDS TO THE COMPOSITION AND RESPONSIBILITIES OF THE AUDIT & RISK MANAGEMENT COMMITTEE AND REMOVAL OF SECTIONS DESCRIBING NON-LEGALLY MANDATED COMMITTEES - ADDED THE VICE PRESIDENT FOR ACADEMIC AFFAIRS / PROVOST AS AN OFFICER AND A DESCRIPTION OF DUTIES AND RESPONSIBILITIES FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED IN DETAIL BY UNIVERSITY MANAGEMENT, GENERAL COUNSEL AND THE AUDIT AND RISK MANAGEMENT COMMITTEE OF THE BOARD OF TRUSTEES. THE AUDIT AND RISK MANAGEMENT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE FORM 990 WITH THE INDEPENDENT ACCOUNTANT AND ACCEPTS THE FILINGS. THE FINAL COPY OF THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE UNIVERSITY MAINTAINS A COMPREHENSIVE CONFLICT OF INTEREST POLICY THAT COVERS TRUSTEES, EXECUTIVE MANAGEMENT, FACULTY, AND ALL OTHER EMPLOYEES WITH DISCRETIONARY AUTHORITY OVER UNIVERSITY AFFAIRS. THE UNIVERSITY DISTRIBUTES THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE ANNUALLY TO TRUSTEES, PRESIDENT'S CABINET, OTHER SENIOR MANAGEMENT, BUDGET MANAGERS, GRANT MANAGERS, AND OTHER EMPLOYEES WITH DISCRETIONARY AUTHORITY DECISION MAKING RESPONSIBILITY. ALL INDIVIDUALS COVERED BY THE POLICY ARE REQUIRED TO DISCLOSE ANY ACTUAL, POTENTIAL, OR APPARENT CONFLICTS OF INTEREST IN WRITING. DISCLOSURES ARE REVIEWED BY THE APPLICABLE PARTY BASED ON POSITION. THE APPLICABLE PARTY THEN DETERMINES WHETHER A CONFLICT EXISTS AND IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION IS AUTHORIZED AS JUST, FAIR, AND REASONABLE. IF A CONFLICT IS DEEMED TO EXIST, A CONFLICT MANAGEMENT PLAN IS DEVELOPED WITH THE APPLICABLE PARTIES, WHICH COULD INCLUDE ACTIONS INCLUDING RECUSAL FROM PARTICIPATING IN ANY CONSIDERATION OR DECISION RELATED TO THE TRANSACTION. SUCH DISCLOSURE AND ABSTENTION FROM A VOTE IS MADE PART OF THE RECORD OF THE BOARD'S MEETINGS. THE CONFLICT OF INTEREST QUESTIONNAIRES AND ANY ACTIONS TAKEN ARE KEPT IN COMPLIANCE WITH THE UNIVERSITY'S RECORD RETENTION AND DESTRUCTION POLICY. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE COMPENSATION IS ESTABLISHED ANNUALLY BY THE EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE UNIVERSITY UTILIZED AN INDEPENDENT COMPENSATION FIRM TO COMPLETE AN EXECUTIVE COMPENSATION STUDY. COMPARATIVE SALARY AND BENEFIT INFORMATION WAS REVIEWED TO ESTABLISH THE APPROPRIATE LEVEL OF EXECUTIVE COMPENSATION. EXECUTIVE COMPENSATION WAS REVIEWED AND APPROVED BY THE EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. COMPENSATION DELIBERATION AND DECISIONS WERE CONTEMPORANEOUSLY DOCUMENTED BY THE EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE. THE MOST RECENTLY CONDUCTED EXECUTIVE COMPENSATION STUDY WAS COMPLETED IN MARCH 2025 FOR THE PRESIDENT. THE MOST RECENT STUDY FOR OTHER EXECUTIVE POSITIONS WHICH INCLUDE THE OTHER OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY WAS COMPLETED DURING MAY 2020. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN ASSET RETIREMENT OBLIGATIONS -1,471,830. ADJUSTMENT TO PRESIDIO EXPENSES 571,375. K-1 UBI NOT RECORDED FOR BOOKS -105,122. NET ASSOCIATED STUDENT REVENUE/EXPENSES -122,172. 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